Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ Pur­su­ant to or by amend­ment of the art­icles of as­so­ci­ation, the gen­er­al meet­ing may re­solve that pref­er­ence shares be is­sued or that ex­ist­ing shares be con­ver­ted in­to pref­er­ence shares.

² Where a com­pany has is­sued pref­er­ence shares, fur­ther pref­er­ence shares con­fer­ring pref­er­en­tial rights over the ex­ist­ing pref­er­ence shares may be is­sued only with the con­sent of both a spe­cial meet­ing of the ad­versely af­fected hold­ers of the ex­ist­ing pref­er­ence shares and of a gen­er­al meet­ing of all share­hold­ers, un­less oth­er­wise provided in the art­icles of as­so­ci­ation.

³ The same ap­plies to any pro­pos­al to vary or can­cel pref­er­en­tial rights at­tached to the pref­er­ence shares that were con­ferred pur­su­ant to the art­icles of as­so­ci­ation.